Saturday, September 27, 2014

Marcus & Millichap Arranges Sale of Sunbelt Rentals in Coral Springs, FL for $2.35 Million

Douglas K. Mandel

 CORAL SPRINGS, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Sunbelt Rentals of Coral Springs, a 26,405 square-foot net-leased property located in Coral Springs, Fla. The asset sold for $2,346,000.

Douglas K. Mandel, a first vice president investments, in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller. 

The buyer, a limited liability company from Plymouth, MI, was secured and represented by Scott A. Ryan, a senior associate, and David Houston and Patrick Doherty, associate vice president investments, in Marcus & Millichap’s Austin office. 

 “This transaction attests to Marcus & Millichap’s ability to reach an expanded buyer pool from across the country. The Austin-based team, led by Scott Ryan had been working with the Michigan-based buyer to identify specific net-leased assets.  The Sunbelt Rentals was a perfect fit for the buyers acquisition criteria”, says Mandel. 

Scott A. Ryan
The 26,405 square-foot industrial property is located within the Commerce Center of Coral Springs. The property is 100 percent occupied by Sunbelt Rentals, one of the largest equipment rental companies in the U.S, with just under four years remaining on the lease term. Sunbelt Rentals is located at 3701 Northwest 120th Avenue in Coral Springs, FL.

For a complete copy of the company’s news release, please contact:                            

Ryan Nee
Regional Manager
Fort Lauderdale, FL
(954) 245-3400

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